Industry News: Turners – an $82m Dorchester target

Micheal Dossor

Micheal Dossor

Vehicle finance company, Dorchester Pacific, plans to offer $3 a share in cash, shares and notes for Turners Auctions, valuing the auction company at $82 million, after winning support from chairman and major shareholder Michael Dossor.

The offer amounts to a 9.1% premium on the most recent trading price of Turners of $2.75,.

Dorchester currently owns 19.85% of Turners while the target company’s chairman owns 20.8% through Bartel Holdings, for a combined 40.65% stake. Continue reading “Turners – an $82m Dorchester target” »

Industry News: Southern hemisphere’s biggest Mini dealership opens

9_PH_IG_NE_JH_KB_VTAuckland’s latest Mini dealership is now open for business.

After months of planning and construction, the brand new, purpose-built Mini Garage is the brand’s largest dealership site in the Southern Hemisphere.

“After two moves in the past two years, Mini has arrived at its new home,” says BMW Group New Zealand managing director Nina Englert. Continue reading “Southern hemisphere’s biggest Mini dealership opens” »

Industry News: Dealers enthused about new diesel Qashqai

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Nissan New Zealand managing director John Manley says that the dealership network is enthused about the arrival of a diesel variant in the all-new Nissan Qashqai line-up which goes on sale this week.

Retail prices of the new car has also been reduced by $2000 on the equivalent model variants from the previous range, with a starting price of $35,900 for the 2-litre petrol ST grade Qashqai.

“If a vehicle sells well for Nissan Europe, we’ve found it will also sell well for us here in New Zealand,” says Nissan New Zealand managing director John Manley. Continue reading “Dealers enthused about new diesel Qashqai” »

Industry News: Spanners fly in Southland

Fastest-spanner-2014-7Automotive technicians from across Southland have battled it out with technique, skill, teamwork and panache for the title of MTA Fastest Spanner: 2014.

Ten two-man teams from the south of the South Island came together, to pull engines apart, and then put them back together to working order in the fastest possible time.

More than 300 spectators watched the event inside the Invercargill Workingmen’s Club, organised by the MTA Southland Branch. Continue reading “Spanners fly in Southland” »

Industry News: The good news continues for auto and equipment industries

ANZ-logo-Strip-with-WLIYW-rectangularBusinesses continue to be confident about the future, but the level of optimism is easing, says the ANZ business confidence survey. Confidence across all regions remains high.

This is seen as continued good news for the vehicle sales sector – also for the transport and heavy equipment industries.

Optimists continue to significantly outnumber pessimists, with a net 40% of firms are optimistic about general prospects, down 3 points on the month prior. Continue reading “The good news continues for auto and equipment industries” »

Industry News: Frank Willett exits VINZ

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Frank Willett

The CEO of Vehicle Inspection New Zealand, Frank Willett, is leaving the company for personal reasons on August 1.

VINZ announced Willett’s resignation yesterday ‘with sadness’.

Gordon Shaw has been appointed as acting CEO from this Monday (July 28), while VINZ seeks a permanent replacement. Continue reading “Frank Willett exits VINZ” »

Industry News: Falcon XR8 unveiled today

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The new Falcon XR8 performance sedan has been unveiled by Ford today – hailed as the best Falcon ever,

Also joining the new XR8 performance model is the first official image of the refreshed XR6 sedan.

Key features:

  • Falcon XR8 showcases Ford’s global design DNA with signature trapezoidal grille, chiseled headlights with daytime running lamps and smoother wrap-around tail-lamps
  • Signature bonnet power dome has been enhanced
  • Falcon XR6 and XR8 carry distinctive XR head light design cues in the headlights

Continue reading “Falcon XR8 unveiled today” »

Industry News: Colonial Motor Co takes over Jeff Gray European

Jeff Gray

Jeff Gray

The Jeff Gray group – representing BMW in Christchurch, Wellington, Palmerston North as well as the Hawkes Bay, has been taken over by publicly-listed Colonial Motor Group (CMC).

CMC is one of New Zealand’s biggest automotive conglomerates, retailing the Ford and Mazda brands in several centres and also representing Peugot and Citroen, Izuzu, Hyundai, Nissan, Kia, Suzuki bikes – and New Holland and Case tractors – in other locations.

CMC also own Southpac Trucks, which is both the distributor and retailer of Kenworth and DAF trucks. Continue reading “Colonial Motor Co takes over Jeff Gray European” »

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